PALMA, Spain, April 21 (Bernama-BUSINESS WIRE) --
Hotelbeds Group, a global bedbank and business-to-business provider of services to the travel industry, has announced today plans for GTA to join its Bedbank business unit.
This Smart News Release features multimedia. View the full release here: http://www.businesswire.com/news/home/20170421005192/en/
Joan Vilà, Executive Chairman of Hotelbeds Group commented: “It gives me great pleasure to announce that GTA will be joining Hotelbeds Group.”
“This deal brings another great bedbank to the Hotelbeds Group family, following the announcement in February that Tourico Holidays will also be integrating with us. Both of these important deals clearly underline our steadfast commitment to accelerate the growth of our business both organically and via M&A activity.4
“GTA is a very successful B2B travel distributor with a proven track-record providing hotels, transfers, and activities to the world’s travel trade including intermediaries, online travel agencies and travel agency retailers. Like Hotelbeds Group, it directly contracts an outstanding global portfolio of hotel and travel ancillary products that it connects and distributes via API integration or online booking platform.”
“GTA’s global footprint and in particular its well-developed presence in the fast growing Asia-Pacific and Middle East markets is closely aligned to Hotelbeds Group’s growth strategy. We are looking forward to welcoming them to our Group. ”
Ivan Walter, CEO of GTA added: “We are excited by the opportunity that combining forces with Hotelbeds Group brings. Our history and proven track record speak for themselves, and by coming together with Hotelbeds Group we can bring together a wealth of experience, commitment and a clear strategic focus on the B2B sector. We believe that today's news is a milestone for the industry, and great news for our respective suppliers and customers. ” About Hotelbeds Group:
Hotelbeds Group is the world’s number one bedbank and a business-to-business provider of services to the global travel industry.
Operating mainly under the Hotelbeds and Bedsonline brands, the company connects, 35,000 travel intermediaries across more than 120 source markets globally with travel providers in over 180 countries representing more than 120,000 hotels, 20,000 transfer routes and 12,000 activities.
In September 2016 the company became independent under the ownership of Cinven and Canada Pension Plan Investment Board (CPPIB). The company is headquartered in Palma, Spain and has 6,150 employees working across 150 offices globally. In the financial calendar year of 2014 / 15 Hotelbeds Group sold around 26 million room nights and achieved a Total Transaction Value (TTV) of €3.8 billion. www.hotelbedsgroup.com About GTA:
Powering global travel, GTA provides easy access to a wide portfolio of accommodation options, transfers, and tours & activities to the travel industry working with some of the biggest and best online travel agents, tour operators, and traditional travel agents. GTA has succeeded in the business-to-business travel industry for nearly four decades. Trusted to deliver because of its wealth of experience, privileged relationships and on the ground expertise, GTA’s technology-driven approach provides solutions to easily connect travel suppliers and travel sellers worldwide. Retail booking sites – TravelBound in North America and TravelCube in Europe, Latin America and Australasia – as well as GTA web and API for wholesalers, together process nearly 40,000 bookings every day, throughout the world. GTA’s vision is to be the world’s easiest travel distribution partner to do business making it simpler for their clients to sell more and drive business success. www.gta-travel.com 1
The deal is subject to customary Regulatory and antitrust approvals. 2
GTA Travel is the trading name of all of the Global Travel Distribution business activity of the Kuoni Group. This deal includes GTA Travel Holding Ltd, Kuoni Holdings Plc, and indirectly all their brands including TravelCube and TravelBound – with the exception of MTS Globe, which will be bought back by its previous owner. 3
This deal is legally structured via the 100% acquisition of the top holding company of GTA Group by Hotelbeds Group, via its UK holding entity. Kuoni shareholders led by EQT VII (a fund advised by EQT Partners), the owners of GTA, will hold a significant minority position in the combined business after the transaction. There will be no changes to the Board of Directors of Hotelbeds Group. 4
Both the GTA and Tourico Holidays deals are separate and independent regulatory processes subject to their own individual timelines. Until each deal completes both Tourico Holidays and GTA remain entirely independent companies.